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World Bank-GEF Investment Fund for the Mediterranean Sea Large Marine Ecosystem Partnership, Tranche 1, 2nd Installment

by Damaris Waigwa last modified Jun 24, 2014 10:26 AM
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The main objective of the proposed World Bank-GEF Investment Fund for Pollution Reduction in the Mediterranean Sea is to facilitate the recipient countries of the Mediterranean Sea basin in implementing their top transboundary priority pollution reduction and habitat protection measures and contribute to reversing the degradation of this large marine ecosystem and its freshwater basins.
GEF ID: 3229
IBRD ID: 97216
Project Category: Other
Project Description:


The main objective of the proposed World Bank-GEF Investment Fund for Pollution Reduction in the Mediterranean Sea is to facilitate the recipient countries of the Mediterranean Sea basin in implementing their top transboundary priority pollution reduction and habitat protection measures and contribute to reversing the degradation of this large marine ecosystem and its freshwater basins. The Investment Fund – supported by the GEF with US$ 60-70 million grant financing over multiple tranches and open to other donors’ contributions – is proposed as a vehicle for catalyzing investments and accelerate urgent actions that are necessary for reducing pollution of the Mediterranean Sea, and the Adriatic Sea in particular. Through the Investment Fund, basin countries can pursue investments aimed at common transboundary pollution reduction and ecosystem conservation goals, and help jump start and further accelerate investments in sectors that are key for environmental improvement as well as social and economic development. The Investment Fund, through a combination of capital investments, economic instruments, policy and regulatory frameworks and public participation will provide a critical mass of financial resources and technical knowledge readily available to countries that embrace the goal of improving the environmental conditions of the Mediterranean Sea. It will also develop a strategic regional approach to investments for greater benefit to the basin countries.

 


Region: Africa, Asia, Europe
Sub-Region: Northern Africa, Western Asia, Eastern Europe, Southern Europe, Western Europe
Basin:
Project Contacts:
Tranche Funding:

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Project Documents:
General Information:
Project Type FSP
Project Status Project Completion
Start Date
Jun 12, 2007 12:00 AM
 
GEF characteristic:
Strategic Priority IW-2
Operational Programme 9
2
Focal Area International Waters
GEF Allocation to project 15.00M US$
Total Cost of the project: 60.00M US$
 
Partners:
Countries: Albania, Algeria, Bosnia and Herzegovina, Bulgaria, Croatia, Egypt, Macedonia the former Yugoslavian Republic of, Lebanon, Libyan Arab Jamahiriya, Monaco, Morocco, Serbia and Montenegro, Syrian Arab Republic, Tunisia, Turkey
Lead Implementing Agency International Bank for Reconstruction and Development (WB)
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